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• • • COUNCIL MINUTES SEPTEMBER 9, 2002 The tax levy proposed for 2002, collectible in 2003, is the maximum levy allowed under the City's levy limit. The proposed levy will result in a decrease in the City's tax rate for 2003 and should reduce the City's share of the tax bill for most property owners. City Finance Director Rolek indicated the proposed levy may be decreased when the final levy is adopted in December but it cannot be increased. The total levy includes dollars for the general operating budget, as well as dollars for general bonded debt. The levy will be further reviewed by the City Council and staff between September 9th and December 9th, for changes, if necessary. City Finance Director Rolek indicated the total amount levied in the year 2002 for property taxes due and payable in the year 2003 is $6,124,621. This total amount levied is for the following purposes: General Operating Levy $5,172,776 Special Levies Increased PERA Contribution General Bonded Debt TOTAL LEVIES $8,156 $943,689 $6,124,621 City Finance Director Rolek advised City staff recommends the adoption of Resolution No. 02-105, Adopting the Preliminary 2002 Tax Levy, Collectible in 2003. Councilmember Carlson moved to adopt Resolution No. 02-105, Adopting the Preliminary 2002 Tax Levy, Collectible in 2003. Councilmember Dahl seconded the motion. Motion carried unanimously. Resolution No. 02-105 can be found in the City Clerk's office. Consideration of Resolution No. 02-106, Setting Truth -In -Taxation Hearing Date, Al Rolek, City Finance Director Rolek advised all government entities are required to hold Truth In Taxation hearings to receive public input on the proposed levy and general operating budget. Cities may not hold their hearings on the same dates as Counties and School Districts. City Finance Director Rolek indicated Resolution No. 02-106 would set Monday, December 9, 2002, at 6:00 p.m. as the date for the City's Truth -In -Taxation hearing. A continuation hearing, if needed, would be held Monday, December 16, 2002, at 6:00 p.m., with final adoption of the 2003 tax levy and general operating budget immediately following the continuation hearing on December 16, 2002. City Finance Director Rolek advised City staff recommends the adoption of Resolution No. 02-106, Setting the Truth -In -Taxation hearing dates. Councilmember O'Donnell moved to adopt Resolution No. 02-106, Setting the Truth -In -Taxation hearing dates. Councilmember Dahl seconded the motion. Motion carried unanimously. 3